The failed philosophy of a rising tide is now a truism.
"Vermont revenue increases as rich earn more" June 10, 2011|Associated Press
MONTPELIER — Vermont’s economic picture is starting to improve in part because the financial fortunes of the state’s top 3,000 income tax filers are getting better along with the stock market, economists say....
Another analyst agreed that improving the financial condition of the wealthy helps the state’s coffers, but the situation highlights a growing disparity between Vermont’s wealthiest individuals and the rest of the state.
“I think it makes sense that that’s what’s happening, because we’ve seen this concentration of wealth toward the top,’’ said Jack Hoffman, a senior policy analyst at the Public Assets Institute in Montpelier. “So as more money gets in the hands of fewer and fewer people, what happens to the income for those people is going to have a greater effect on our revenue collections.’’
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Well, if it gets them single-payer health care maybe it's all worth it.
